Equities tank on Ukraine invasion

Markets seeing red as Russians invade Ukraine

Asian equities were on the back foot after a soft New York session anyway, but reports that the Russian invasion of the Ukraine is underway has sent them sharply lower once again. With the crisis escalating in the Ukraine equities are tanking in Asia.

S&P 500 and Nasdaq futures are 2.0% lower while Dow futures have slumped by 2.50%. Japan’s Nikkei 225 is 2.25% lower while the South Korean Kospi has tumbled by 2.35%. Mainland China is relatively calm, helped perhaps by their “national team.” The Shanghai Composite is down 0.65% and the CSI 300 has fallen 1.05%. Hong Kong is in full retreat, however, falling by 3.0%.

Regionally, Singapore is 2.50% lower with Taipei down 1.50%, while Kuala Lumpur and Jakarta are holding steady thanks to the jump in oil prices, down just 0.15%. Bangkok is down 0.80%. Australian markets are being cremated, the ASX 200 and All Ordinaries falling by 3.50%.

US treasury yields are tumbling as investors seek shelter and it is hard to see any reason that stocks will reverse losses today. The effect on European markets this afternoon is obvious, and they stand to fare worst out of this situation.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Jeffrey Halley

Jeffrey Halley

Senior Market Analyst, Asia Pacific
With more than 30 years of FX experience – from spot/margin trading and NDFs through to currency options and futures – Jeffrey Halley is OANDA’s senior market analyst for Asia Pacific, responsible for providing timely and relevant macro analysis covering a wide range of asset classes. He has previously worked with leading institutions such as Saxo Capital Markets, DynexCorp Currency Portfolio Management, IG, IFX, Fimat Internationale Banque, HSBC and Barclays. A highly sought-after analyst, Jeffrey has appeared on a wide range of global news channels including Bloomberg, BBC, Reuters, CNBC, MSN, Sky TV, Channel News Asia as well as in leading print publications including the New York Times and The Wall Street Journal, among others. He was born in New Zealand and holds an MBA from the Cass Business School.
Jeffrey Halley
Jeffrey Halley

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